A 63 year old woman, Halimah Yacob has been declared Singapore’s eighth president on Wednesday after a “walkover” election that saw no vote after no other contenders ran for the position.

Yacob, had been the only candidate deemed eligible to stand in the country’s Elections Department, having held a key public position as speaker of parliament for three years.

The other two contenders, Salleh Marican and Farid Khan, were both denied eligibility, having fallen short of a constitutional rule that required any candidate from the private sector to have led a company with shareholder equity of at least 500 million Singapore dollars (372 million dollars).

Following the announcement, Yacob thanked her supporters in a speech, calling it a “a proud moment for Singapore, for multiculturalism and multi-racialism.”

Yacob is Singapore’s first Malay president in 47 years and the first woman to occupy the president’s office.

Imagine say Naija adopt this kind of rule and makes it compulsory that before u contest for President, u will have a private company that worth 20billion dollars .. u will see our Politicians coming out to lay claims to so many multi billion dollar companies in Nigeria that they have been hiding from us